Washington plans to exclude Iran from SWIFT's international remittance system

Washington plans to exclude Iran from SWIFT's international remittance system

2018/11/02 17:43

Baghdad today - follow-up

The US Treasury Department on Friday confirmed the listing of 700 companies and individuals from Iran on the sanctions list, on November 5, while expressing its intention to exclude Tehran from the system "Swift" international remittances.

"The United States is ready to imposesanctions against the Swift system for banking disclosure if it provides services to businesses and people subject to sanctions on Iran," Treasury Secretary Steve Manuchen said.

"The US Treasury has added 700 people and entities to the list of Washington sanctions on Tehran and will target hundreds of companies removed from sanctions after the joint work plan on Iran's nuclear program and more than 300 new names," he said.

"Exemptions, which will include eight other countries, will be temporary and aim to keep oil prices stable."